Business-to-business relations constitute a strong pillar of the bilateral relations between Malaysia and Cambodia, said Shaharuddin Onn, Malaysian Ambassador to Cambodia, yesterday.
Addressing the Chinese New Year Dinner organised by the Malaysian Business Chamber in Cambodia (MBCC) at Hyatt Regency Phnom Penh, Ambassador Shaharuddin hailed the strong business and economic relations between both countries.
“The three major aspects of relations between two countries are government-to-government, business-to-business and people-to-people,” said Ambassador Shaharuddin, adding, “Of the three, business-to-business relations remained good, which has excelled over the past few years.”
He lauded Malaysian businesses in the Kingdom, terming them as a substantial contributor to the country’s economy and people. “Malaysian businesses are doing very well in the country, and they are effectively contributing to Cambodia’s growth story,” he pointed out.
Welcoming the guests and wishing them a great new year ahead, MBCC President, Oknha Tan Khee Meng, said Malaysian businesses have been a major contributor to the strong bilateral ties between both nations that have scaled new heights.
Yesterday evening was marked by cultural events, attended by Malaysian business leaders, business executives, diplomats, corporate honchos, and dignitaries from various walks of life.
Prizes were distributed to lucky draw winners.
Malaysian businesses are well diversified across Cambodia in important sectors like banking, telecom, energy, hospitality, infrastructure, construction, retail and manufacturing.
Malaysian companies are at the forefront of Cambodia’s economic landscape, which over the past three decades have contributed to the economic growth and helped hone Cambodian talents in various industries and sectors.
Trade between Cambodia and Malaysia reached $715 million during the first ten months in 2024, up 35.3 percent compared to the same period last year, according to the data of the General Department of Customs and Excise (GDCE).
While Cambodia’s exports to Malaysia reached $110 million in the period, rising by 35.7 percent year-on-year, imports reached $605 million, showing an increase of 35.3 percent.
The beginnings of MBCC can be traced back to the first meeting of representatives of Malaysian businesses operating in the Kingdom in 1993 under the stewardship of then-Malaysian ambassador Mohd Deva Ridzam.